SAFCO, a unit of Saudi Basic Industries Corp., soared to the highest in more than two years. Mobile Telecommunications Co. of Saudi Arabia climbed after Bahrain Telecommunications Co. submitted an offer to acquire a stake in the company also known as Zain Saudi Arabia.

The Tadawul All-Share Index (TASI) gained 0.37 percent to 6,635.86 on Saturday. The sector activity for the day was mostly positive with 13 out of 15 closing with gains ranging from 0.02 percent by the Energy & Utilities sector to 1.52 percent by the Retail sector. On the other hand the losing sectors were the Cement sector, the Media and Publishing sector and the Telecommunication & Information Technology sector with 0.03 percent, 0.08 percent and 0.17 percent. The overall market breadth for the day was positive with 100 advancers against 22 decliners giving it an AD ratio of 1.10, the Financial Transaction House (FTH) – licensed by the Capital Market Authority (CMA) — said in its daily market report.

The stock market turnover for the day reached SR4.54 billion.

SAFCO gained 2.41 percent to SR191.00, the highest since September 2008. Saudi Basic Industries Corp., the world’s largest petrochemical maker, rose 0.24 percent to SR104.50. Zain Saudi advanced 0.63 percent to SR7.95 as Batelco said it offered to by Zain Group’s 25 percent stake in the company.